Union Finance Minister Arun Jaitley revealed that the Goods and Service Tax Council approved the final draft of Central GST and Integrated GST  to enable the roll-out of new indirect tax regime from July 1. Further, Jaitley added that the GST council also gave the nod to a five per cent tax rate on small hotels and restaurants. Notably, the consensus came at a meeting of finance minister Arun Jaitley and several state finance heads on Saturday.